If you shop and get a good real estate agent that knows the area, you can find some deals for sure.
There are lots of people that will want to get rid of their house quickly as they may or want to get out of the city quickly or need the cash as soon as possible.
I sold my house after it was only on the market for 7 days with a real estate agent.
The person who bought my house got a great deal!!
You will find many idiots like me if you shop around!.
There are lots of people that will want to get rid of their house quickly as they may or want to get out of the city quickly or need the cash as soon as possible.
I sold my house after it was only on the market for 7 days with a real estate agent.
The person who bought my house got a great deal!!
You will find many idiots like me if you shop around!.
My own uneducated guess is that interest rates figure to rise sometime near the end of the year and this will be the beginning of the end to the so called real estate boom.
Think we can anticipate a drastic decrease in home appreciation for the following
3 years starting in 2005.
The 8-12% rise per year will be cut back to the 3-5% range.
Think we can anticipate a drastic decrease in home appreciation for the following
3 years starting in 2005.
The 8-12% rise per year will be cut back to the 3-5% range.
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> The person who bought my house got a great deal!!
You will find many idiots like me if you shop around!. <HR></BLOCKQUOTE>
I think we had the same agent I pretty much did the same thing when I left Vegas I just wanted out of there
You will find many idiots like me if you shop around!. <HR></BLOCKQUOTE>
Meyer Lansky:
I just got back from a two week stay in Las Vegas and did some real estate shopping while in town as I live in the Northern California Bay Area and own property in LV already. I can tell you first hand that I was stunned at the current prices. Less than 3 years ago, at any one time there were approximately 100-120 separate new developments under construction as approximately 8000 people a month were moving into Las Vegas, mostly from California. Now there are currently nearly 2 million residents of the valley and there were only 40 new developments under construction with the same number of people either moving in or investing in property, thereby driving the prices through the roof. The developers release a small portion of each development on a weekly basis, sometimes approximately 20 homes, and then raise the price 2% the next week, and so on. They use a lottery, the demand is so high. Homes that cost $200,000 last year at this time are currently going for over $400,000. California investors put down the deposit, approximately $7500-$10,000 before the house has even started construction and 6 months later when the home is completed, either rent it or sell it for a tidy profit. I have a friend who just closed escrow on a home in a community called "The Tides" in January for $287,000 and already has been offered $385,000 in less than 3 months. What makes it even worse is that the Bureau of Land Management is shutting the door on any more expansion so the housing shortage to the demand will increase. Personally, because of where I live, I have no problem buying, but must say that these prices are ridiculous. That being said, depending on what you are looking for, a single family home, either new or resold, a townhome or a condominium, a good agent can help you. There are some very nice residential communities away from the strip there are quite pleasant but can be expensive depending on your needs. I know there are many members of the RX who currently reside in Las Vegas and hope they can help you as well. Best of luck to you.
I just got back from a two week stay in Las Vegas and did some real estate shopping while in town as I live in the Northern California Bay Area and own property in LV already. I can tell you first hand that I was stunned at the current prices. Less than 3 years ago, at any one time there were approximately 100-120 separate new developments under construction as approximately 8000 people a month were moving into Las Vegas, mostly from California. Now there are currently nearly 2 million residents of the valley and there were only 40 new developments under construction with the same number of people either moving in or investing in property, thereby driving the prices through the roof. The developers release a small portion of each development on a weekly basis, sometimes approximately 20 homes, and then raise the price 2% the next week, and so on. They use a lottery, the demand is so high. Homes that cost $200,000 last year at this time are currently going for over $400,000. California investors put down the deposit, approximately $7500-$10,000 before the house has even started construction and 6 months later when the home is completed, either rent it or sell it for a tidy profit. I have a friend who just closed escrow on a home in a community called "The Tides" in January for $287,000 and already has been offered $385,000 in less than 3 months. What makes it even worse is that the Bureau of Land Management is shutting the door on any more expansion so the housing shortage to the demand will increase. Personally, because of where I live, I have no problem buying, but must say that these prices are ridiculous. That being said, depending on what you are looking for, a single family home, either new or resold, a townhome or a condominium, a good agent can help you. There are some very nice residential communities away from the strip there are quite pleasant but can be expensive depending on your needs. I know there are many members of the RX who currently reside in Las Vegas and hope they can help you as well. Best of luck to you.
We had a great Agent and got very, very lucky. The people we bought from were days away from foreclosure and this deal just fell into our laps. Home sales are at record highs in the Vegas area. We will never lose money on this place as we got in way below market. Vegas real estate is a super bargain compared to the price of homes in San Diego. It's great to buy a place knowing if things don't work out we can sell, make money and leave with no regrets. With the forcast for continuing growth in this market I don't see prices coming down for a long, long time.
Much better deals can be had looking at older homes rather than new development deals.
And in Vegas, 5 years counts as an old home.
A good agent and some legwork will get you a good deal.
Yes, growth continues to be ridiculous and you can now see homes on the mountainside slopes in all 4 directions except maybe North.
But there is a lot of turnover here as well, transients plus movers on up, so there is probably more overall action here than in most communities this size.
And in Vegas, 5 years counts as an old home.
A good agent and some legwork will get you a good deal.
Yes, growth continues to be ridiculous and you can now see homes on the mountainside slopes in all 4 directions except maybe North.
But there is a lot of turnover here as well, transients plus movers on up, so there is probably more overall action here than in most communities this size.
Mr Lansky
It's a buyers market in the LV Valley. Prices are appreciating BUT still way below the major cities. A $200,000 house here would go for eight or more in LA,SD,SF,BOS,NY etc.. Raw land is what is pricey. Up to mabey $300,000 per acre and climbing. My son is in comercial real setate. He buys dirt & air and developes it. He worked the last five years on a huge project and now is reaping the benefits. He put together approx 1600+ acres and they're putting 12,500 homes on it. It's in the southwest and ground has been broken.
Enough homes are being built to handel three million people in the valley. I'm touting the real estate market not the city or quality of life as it now is.....ScottyS
It's a buyers market in the LV Valley. Prices are appreciating BUT still way below the major cities. A $200,000 house here would go for eight or more in LA,SD,SF,BOS,NY etc.. Raw land is what is pricey. Up to mabey $300,000 per acre and climbing. My son is in comercial real setate. He buys dirt & air and developes it. He worked the last five years on a huge project and now is reaping the benefits. He put together approx 1600+ acres and they're putting 12,500 homes on it. It's in the southwest and ground has been broken.
Enough homes are being built to handel three million people in the valley. I'm touting the real estate market not the city or quality of life as it now is.....ScottyS
Home prices in Las Vegas have gotten way out of line. People are asking and getting obscene prices for total piece of shit houses in rathole neighborhoods. It's unbelieveable. I can understand nice homes in good areas going for high prices but there are tons of real average homes that should be going for $120,000 and people are getting $160,000 for them and they're in neighborhoods that look like shit. I saw a junk house sell for $157,000 and it looked like the wolf in the Three Little Pigs fairy tell had just blown it down. I wouldn't have paid $57,000 for it.
Obviously, low interest rates make it possible for people to afford to pay more so that has helped drive prices up as well as the reasons some posters have cited above such as out of state investors and the high cost of land. The out of state carpetbaggers have gotten so prevalent that some new home builders here have made it so the home has to be occupied by the purchaser so the local people here have a shot at a home rather than seeing these f**king Californians buy the homes and then rent them out.
Las Vegas is about as about as shitty a place to live as you would ever want to see. There is more sub-human lowlife here than any city in America but Las Vegas used to have one thing going for it. That was affordable housing. Now that's out the door.
Obviously, low interest rates make it possible for people to afford to pay more so that has helped drive prices up as well as the reasons some posters have cited above such as out of state investors and the high cost of land. The out of state carpetbaggers have gotten so prevalent that some new home builders here have made it so the home has to be occupied by the purchaser so the local people here have a shot at a home rather than seeing these f**king Californians buy the homes and then rent them out.
Las Vegas is about as about as shitty a place to live as you would ever want to see. There is more sub-human lowlife here than any city in America but Las Vegas used to have one thing going for it. That was affordable housing. Now that's out the door.
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Las Vegas is about as about as shitty a place to live as you would ever want to see. <HR></BLOCKQUOTE>
Life is what you make of it no matter where you live. There are low lifes and scumbags everywhere. If you hang out in shit holes you always come out smelling like shit.
For the most part the people here seem friendly and easy to get along with. I can do with out the bugs, humidity and brutal winters.
To each there own. I'll flip my switch in the Summer
Life is what you make of it no matter where you live. There are low lifes and scumbags everywhere. If you hang out in shit holes you always come out smelling like shit.
For the most part the people here seem friendly and easy to get along with. I can do with out the bugs, humidity and brutal winters.
To each there own. I'll flip my switch in the Summer
Supply and demand is so screwed up right now. I think I read at one point somebody figured out there was a six day supply of resale houses in the market. That is ridiculous. I have lived in a number of cities and I have seen the same thing over and over. You get some buzz for the town and good job growth which draws in new residents. The prices start going up consistently so everyone expects it. People that would think of selling start holding onto the home figuring holding out gets them more money. Speculators jump in and buy houses they never intend to occupy. And that all causes a bubble. There is simply no supply in town. It begins and ends with that. The builders have slowed considerably because the BLM is playing the game of slow rolling the Valley, jacking up their profits. Without land they can't build. Without new houses people are forced to buy resales, but they quickly evaporate in an overheated market.
You will never find a good deal looking for a retail deal thru RE agents/brokers. Get a paper, go to the classified ads. Call the ads that say
"We buy houses cash". Tell them you are looking for a deal. They will "flip" you a deal for a small profit. Go to the local real estate investor club and ask for a deal. Come to my local club http://www.re-investors.com
for a deal here in Orlando. Example: If the right person contacted me I would have let them take over the payments for a 3br nice house in a good part of town. Paid 90k in 1990. Near Eastern and Sahara. Mr Fishhead himself has been there. Thank you.
"We buy houses cash". Tell them you are looking for a deal. They will "flip" you a deal for a small profit. Go to the local real estate investor club and ask for a deal. Come to my local club http://www.re-investors.com
for a deal here in Orlando. Example: If the right person contacted me I would have let them take over the payments for a 3br nice house in a good part of town. Paid 90k in 1990. Near Eastern and Sahara. Mr Fishhead himself has been there. Thank you.
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>For the most part the people here seem friendly and easy to get along with. I can do with out the bugs, humidity and brutal winters.
<HR></BLOCKQUOTE>hell with the brutal winter wait for the first summer you will have thought you have gone to hell
<HR></BLOCKQUOTE>hell with the brutal winter wait for the first summer you will have thought you have gone to hell
